Property, plant and equipment are assets that:
A) have expected lives of more than one year.
B) are used in the business.
C) are not acquired for resale.
D) meet all of the requirements stated above.

Question

Quizplus · Accepted Answer

Property, plant and equipment are assets that have expected lives of more than one year, are used in the business, and are not acquired for resale. Therefore, all of the requirements stated above must be met for an asset to be considered property, plant, and equipment.

Property, Plant and Equipment Are Assets That